Procyon Advisors LLC Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Procyon Advisors LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,357 shares of the company’s stock after buying an additional 992 shares during the period. Procyon Advisors LLC’s holdings in PepsiCo were worth $4,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tompkins Financial Corp grew its holdings in PepsiCo by 6.8% in the 4th quarter. Tompkins Financial Corp now owns 66,129 shares of the company’s stock worth $10,056,000 after buying an additional 4,183 shares in the last quarter. Goldstone Financial Group LLC boosted its position in PepsiCo by 2.3% during the 4th quarter. Goldstone Financial Group LLC now owns 5,208 shares of the company’s stock worth $792,000 after acquiring an additional 115 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at $76,000. Occidental Asset Management LLC raised its stake in shares of PepsiCo by 9.7% during the fourth quarter. Occidental Asset Management LLC now owns 24,108 shares of the company’s stock valued at $3,666,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Empirical Asset Management LLC lifted its holdings in PepsiCo by 0.4% in the fourth quarter. Empirical Asset Management LLC now owns 34,939 shares of the company’s stock worth $5,313,000 after purchasing an additional 124 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEP shares. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.27.

PepsiCo Price Performance

Shares of PEP stock opened at $146.58 on Friday. The firm has a fifty day moving average of $156.06 and a 200-day moving average of $166.05. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $201.11 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo’s payout ratio is 79.94%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.